How To Manage Cloud Costs

Cloud computing is an essential component of business operations today. No matter the size of the business, cloud computing boosts efficiency and productivity while fostering collaboration. But, for businesses with limited resources, managing cloud costs can be a major concern. Let’s talk more about cloud cost management to optimize your business’s use of resources. 

How Do Businesses Use Cloud Computing?

Cloud computing enables businesses to access their data from any location with any compatible device. With cloud computing, data storage takes place on the Internet, not on a hard drive or other type of equipment. So, with data stored on the cloud, it’s both widely accessible and protected. If your business’s hardware is damaged, you can feel good knowing that any information stored on the cloud is as safe as can be. 

Cloud Computing For Remote Work

In addition to providing superior security, cloud computing enables remote working in businesses of all sizes. When your company’s data is available online from any device, your employees will have the information that they need to work from anywhere. They’ll be able to access projects and work along with employees in the office without being in the same physical location. 

Types of Cloud Services For Businesses

There are multiple types of cloud services available for businesses. The main types include:

  • Private Cloud

Businesses can opt for a private cloud for maximum control and flexibility. Private clouds may be available over the Internet or through a secure internal network. Unlike a public cloud, businesses can customize and control a private cloud to suit their needs. With computer infrastructure managed on-premises, businesses can maintain a tighter hold on private cloud services. 

  • Public Cloud

A public cloud is available over the Internet to the public. Resource sharing and the ability to scale services are features available through the public cloud. The public cloud is available to individuals as well as businesses, and pricing generally fluctuates based on user needs. 

  • Public/Private Hybrid

A hybrid cloud uses a combination of private and public cloud services, along with on-premises infrastructure, to offer businesses a flexible cloud strategy. A hybrid cloud offers many of the benefits of a private cloud along with heightened cost efficiency, making it a popular option among small and mid-size businesses today. 

Cloud Cost Management

Managing and optimizing cloud costs are critical tasks for businesses in today’s uncertain economic environment. If cloud costs get out of hand, it can impact a business’s cash flow and create financial instability within the organization. But, this issue is avoidable when you control cloud costs on an ongoing basis. 

Here are our top tips for managing cloud costs to maintain financial security:

  • Focus on necessary monthly services to avoid extraneous costs

As you select a cloud service to suit your needs, consider the services that will be used the most. Rank services are used to identify your spending priorities. Money should be spent on the services that are the most essential to your business operations. 

  • Evaluate all available pricing structures

Cloud service providers vary in how they structure service pricing. Since packages may not be directly comparable, you’ll need to closely evaluate all of your available options to find the right product for your needs. 

  • Track service usage and compare it to service costs

To manage your cloud costs over time, keep track of service usage for the cloud. Services that contribute the most to your monthly spending should be the most closely monitored. Compare the usage data that you collect to your overall monthly spending, considering whether usage and cost line up for each cloud service. 

  • Eliminate outdated data being stored in the cloud

Cloud services may store outdated or irrelevant data, which can rack up your total monthly spending. Analyze these services and get rid of any old, irrelevant data stored in the cloud. You can also put a lifecycle procedure into effect to prevent outdated information from being stored again. 

  • Stay on top of infrastructure updates

Cloud service providers will frequently implement updates for improved security and performance. To manage costs and ensure efficiency, make sure to update and/or optimize your infrastructure in line with cloud changes. Inletware is here to help you boost cloud performance while keeping costs low. Our IT services and data analytics will help your business get the most out of the cloud. Contact us today to learn more.


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